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Analyst: Ethereum price hits $1,500, analysts warn it could drop to $1,000

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CryptoWorld News reports that as the market collapse intensifies, Ethereum's price has fallen to $1,500, with analysts warning of a potential risk of dropping to $1,000. On June 6th, after a wave of long liquidations, Ethereum's price dropped over 10%, touching a low of about $1,505, then stabilizing around $1,540. Over the past week, Ethereum has declined approximately 23%, reaching its lowest level since early 2023. Bitcoin briefly fell below the $60,000 support level, leading to widespread liquidations in the market. Derivatives data shows that nearly 78.7% of liquidations came from long positions, and Ethereum's open interest decreased by nearly 30%. According to Sosovalue data, the US spot Ethereum ETF recorded about $540 million in net outflows in May, with an additional $168 million flowing out in the first week of June, and ongoing capital outflows weakening demand in the spot market.
ETH0.76%
BTC0.83%
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RecedingTideAfterTheRain
· 14h ago
ETH's recent drop has been fierce, long positions are being liquidated in a chain reaction. Wait for stabilization before considering re-entering.
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ElevatorMeme
· 14h ago
Bitcoin breaks $60k, ETH still has the old problem of not following the rise after falling, derivatives de-leveraging is not over yet
View OriginalReply0
PixelatedDriedFish
· 14h ago
If you can't hold 1500, then 1000 is really possible.
Continuous outflows from ETFs are too damaging; institutions are retreating.
View OriginalReply0
StubbornSmallDishes
· 14h ago
I will also analyze that in the next year, Ethereum could reach 1600.
View OriginalReply0

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